Cryptocurrency Training Course: Should You Pay for One or Are They All Scams?

It is troubling to me people in the cryptocurrency space are so derogatory towards paid advice, whether it be a cryptocurrency training course like mine or something else.

I get that cryptocurrency is dominated by a bunch of libertarian millennials singing Kumbaya!

And yes! I too am aghast at the shilling going on… both with the ICOs themselves, of which 99.9% will fail and take investors money with them, and the blatant con men who don’t give a rip about anything other than parting you from your money.

I suppose it’s inevitable when there is this much money in the water. The sharks are everywhere.

But, to make absolute comments, like these, are doing potential investors a major disservice:

If this model of people doing it on their own is so great, why are so many doing it wrong?

Take, for example, this Tweet from a well-known developer in the space:

Here’s a hint…

If you want to be successful investing in Bitcoin and other cryptocurrencies, don’t take advice from the hoodies.

This is a new technology. Not a religion. To #HODL Forever is great advice. Until it’s not.

This coming from a thirty something and all, who has probably never invested before in his life and isn’t old enough to remember losing 80% of his portfolio he had worked an entire lifetime to accumulate when the dot-com bubble burst.

They have the biggest case of “not invented here syndrome” you could ever imagine.

The financial disincentives to do anything other than what they’ve always done, are massive.

So, sadly, you aren’t going to see that many well intentioned financial professionals diving in to help people understand crypto as a real asset class.

But someone needs to.

Turns out the rules of investing are not suspended just because this is a new technology… Albeit, in all likelihood, a massively disruptive one.

They are like gravity.

And the blockchain.

They are immutable.

And, if you break them, there is always a price. Always. Just wait.

So, is there real money to be made in this market? Yes.

Is this market trickier than the stock market? Yes.

Remember, profit is the reward for risk.

Can that risk be managed. Yes.

And, I would argue, if you aren’t paying at least as much attention to the risk as the reward side of the equation, we know where the money will be coming from, to pay the winners, in the zero sum game that is a market.

So, back to the original question… should you pay for a cryptocurrency training course?

Maybe.

The question is return on investment.

Will you recoup the price of the cryptocurrency training course by 2X or 3X?

Will you do better than doing it on your own?

Are your chances of a successful outcome improved by paying for that knowledge?

If yes, then it’s simple. If no, that is simple too.

Sadly, there is a lot of absolute crap out there. A lot!

There is chum in the water and it is filled with sharks.

So, how can you tell the difference between real value, worth paying for, and hyped up garbage?

Here are a couple of simple heuristics for you:

✓ Big names, lots of followers, omnipresent ads and mainstream press are ALWAYS the wrong place to go …. James Altucher, John McAfee, Tai Lopez …. Please! I’m throwing up in my mouth right now!

✓ If they are teaching trading … Touting get rich quick … Suddenly a guru because they have quadrupled their little sister’s lunch money in a bubble? Run!

✓ They are not cheerleaders. You don’t want bulls… or bears. You want to find the owls.

✓ Use your gut … The people you are looking for are thoughtful, honest and smart … Are they saying things no one else is willing to say? Thinking in ways no one else is thinking? Speaking the truth even though it is unpopular?

✓ Their heart is in the right place. They live by the Zig Ziglar adage, “You get everything you want in life by helping others get what they want.”

That is who you want to learn from. That is how you tell the difference.

Use your gut. Use your brain. Be smart. Remember, this time is NEVER different.

Anything published on this site is for educational purposes only and DOES NOT constitute financial advice. Past performance is no guarantee of future results. All investments involve risk and may result in a loss. Investors should consider their investment objectives, risks, charges, and expenses of any and all financial instruments carefully before investing. Historical and expected returns, as well as future projections may not reflect actual future performance.